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rate today is higher than that of frugal canada. a new congressional budget office report says deficits are returning to precrisis levels within a few years. we don't need some big and grand bargain. even moderate reform on immigration, gun control, energy policy, and most difficult, the budget, would give a powerful boost to the country beyond any specific economic impact. you see, politicians could demonstrate that they could actually govern. everyone would get some credit. and america would finally have found a center. for more on this, you can red read my column in this week's "time" magazine. let's get started. >>> so now you know my thoughts on how the white house and congress can get some work done. let's get straight to what other people think. joining me today, paul krugman, op-ed columnist for "the new york times," the author of "end this depression now" just out in paper back and on "the new york times" bestseller list. mort zuckerman, publisher of u.s. news and world report, publisher of "the daily news" and he has a few real estate holdings here and there. arianna huffingto
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, the driving passion for mr. boehner in these fiscal debates is his conviction that trillion deficits are sapping the country of its energy and prosperity. trillion deficits, his driving passion. everybody loves john boehner's passion. but this is supposedly what he feels so passionate about. this is a chart of the country's budget deficit levels every year. red bars are president bush's deficits from 2008 and 2009. blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are committed to us lurching from self-imposed crisis to self-imposed crisi
joins us thousanow all the details. >> as you know, there are two ways to go about deficit reduction under the sequester law passed in 2011. one is the full ten year sequester. that's $1.2 trillion in budget cuts over ten years. the other is to do it piece meal. if do you it just for the rest of of the year, it would just be $85 billion. president obama said if congress can't agree with the full pack annual by march 1st, we need to do something smaller in the name of staving off damage to the economy, to consumer, and to federal workers. here's the president. >> if congress can't act immediately on a bigger package, about they can't get a bigger package done by the time the sequester is scheduled fto go into effect, then i believe they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until congress finds a way to replace these cuts with a smarter solution. >> now, of course the fundamental barriers separating the two sides on either a short term or long term deal is that p
little of debts and deficits, tomorrow he plans to lay out an agenda that includes not for the deficit but at the same time, ramps up spending on new domestic programs and seeks to raise taxes. and -- making the argument against big spending cuts. >> and that is almost a false argument. we have a budget deficit problem that we have to address. >> reporter: and the president is expected to push hard against the so-called sequester. the automatic spinning cuts that hit next month. and while where's certain to mention immigration and new gun control initiatives, much of the speech may focus on job creation and new federal outlays for education and infrastructure. >> and republicans will be worried. >> will you go along with that? >> slopping we pay for it. we have soon the move before with $51,000 for every man, woman, and child in mark. >> and the president will aggressively sell the themes he outlines tomorrow this week, as he travels to three cities. asheville, north carolina, and atlanta, georgia, and up to chicago, illinois, where he is expected to talk largely about gun control. in
advising, we can replace the sequester with a smarter strategy that is a more gradual deficit reduction plan. he's going disagree with the republicans on how to do that. he's going to want revenue to be part of it. republicans will say no thank you. >> we'll get the president if a minute and a half. white house gave us a two-minute warning. i would say it's a short-term for the president and the congress not doing what they're supposed to do pass a budget every year. the president set up the sequester, a fiscal negotiations -- >> this is not a natural disaster. >> it's not a natural disaster. >> man-made. >> many ways the president's late submitting his own budget but coming to the podium because though he's part of the mess he thinks he has the upper hand. >> right. i'm having a world is upside down moment. when you talk to house republicans they say to you, you know what? this may be the best budget cuts we can get. let the sequester take effect, even if it cuts the military, the secretary and defense, leon panetta saying that would be shameful. but you have a lot of house republicans
proposals for deficit reduction. the president told super bowl fans reducing the deficit will require more taxes. >> can we combine some smart spending cuts because there's still some waste in government, can we reform our health care programs in particular and can we close loopholes and productions that folks who are well connected and have a lot of accountants can take advantage of. there's no doubt we need additional revenue coupled with smart spending reductions in order to bring down our deficit. >> president also warned congress about the danger of alowing the sequester to go into effect. >> washington cannot continually operate under a cloud of crisis. that freezes up consumers, gets businesses worried. we can't afford the self-inflicted wounds. >> no another tweet david plouffe said message delivered to big audience on balanced budget, deficit reduction, economy growth. on abc, an unlikely name was invoked for direction. >> i think what we need to do is do some things mitt romney taungd abo talked about. he said there are tax loopholes that should be closed. there are efforts being
await final action on deficit reductions. well, the best way to reduce deficits is through economic growth. [ applause ] get ready for a lot more of that new-plane smell. we're building the youngest, most modern fleet among the largest us airlines to ensure that you are more comfortable and connected than ever. we are becoming a new american. barrow island has got rare kangaroos. ♪ chevron has been developing energy here for decades. we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to "the kudlow report." in this half hour, mahmoud ahmadinejad says iran is now a nuclear country. does that mean the rogue regime already has nuclear weapons? we'll get an answer later on. on what would have been president reagan's 102nd birthday, we will honor reagan with a look at many of his messages that resonate today. we have more of his best comments for you and we have reagan biographer cr
land, reducing the debt and reducing the deficit. >> john, it might be quite frankly that he's an iowan and iowans get things done. i got to sequester conspiracy theory for you. both republicans and democrats are using these automatic cuts as cover. they pretend to disdain them, but democrats are actually okay with $1.2 trillion in deficit reduction that doesn't touch medicare, medicaid and social security. republicans are railing against slashing defense. in the deal they've got a big cuts that they have long coveted. both sides can claim it's the other side that's unreasonable and they get automatic cuts. is this oliver stone stuff or am i on to something here? >> there are people in both parties who think a sequester would be a good thing for them. there are a lot of republicans who think the president is never going to budge and point to newly elected democrats. massachusetts senator elizabeth warren ran ads saying i will never cut medicare. chairman newsle knows you can't get the deal unless you have some call them what you will, cuts, big changes in the programs. you have people o
. >> they need to make cost-cutting measures. i mean, they've been running in the deficit for quite a while. >> you know, those folks look like just hard-working knowledgeable americans that care about the country. but they're so wrong. it's not about e-mails and it's not about ecommerce. it's about the republican party destroying the middle class in this country. and i wonder how many of those folks right there who don't rely on the post office, how they're going to feel when their netflix deliveries are delayed. what? they're not here for saturday night family movies? that's right. people definitely take the post office for granted. most everything americans know about the post office is absolutely wrong. they haven't paid attention to the story. and into the mainstream media, here we go. this morning, the "washington post" is telling people that the post office suffered tens of billions of dollars in losses in recent years with the advent of the internet and ecommerce. really? plenty of other media outlets. well, they are taking their information directly from the republican talking poin
we're going to get these defense cuts and deficit hawks, conservatives, tea partiers are putting moderate republicans in a bind saying this is cutting our deficit. let's go for it. >> the grand irony, of course, is the fact that the number -- if you poll people their number one issue is jobs, right? it continues to be jobs. and $120 billion austerity crunch, the numbers being bantered around, in exchange for the sequester, which is like $85 billion. whatever it is, right, that's a big chunk. that will have an effect, negative jobs effect, no question. >> it is going to have an effect, i agree with you, chris. here is what i think. i think it is a risk. there will probably be a small recession. we had a .1 decrease in gdp last time. this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this oth
, was hardly mentioned. i think now we've got to talk about the debt, the deficit, getting america's fiscal house in order and create jobs for almost 8% of our population who don't have them. >> congresswoman, a little preview in the retreat where the democrats were. what's your sense of what the president tonally and substantively what we expect from him? >> first of all i think it's going to be very optimistic. i hope the president does talk about the successes of the economy, creating nearly 6 million jobs, the fact that actually des kregs nary spending is at the lowest level since 1976 and that we have reduced the deficit by half. that we need to do. but he's going to talk about the new initiatives to make the economy work for everybody, investments, growth. >> investments is also spending. therein we immediately see the republican seat. >> when we talk about creating jobs we're talking about deficit reduction, that the least emphasized method of reducing the deficit, we talk about spending, revenue, growth. he wants to emphasize that we need to make investments in infrastructure, in ed
today in the fiscal 2013 budget $850 billion will be the deficit and we looked at the charts. people will argue, probably the man here, that it's going to be down in the long term because of increased revenues, economic growth, sequester, higher taxes. but kimberly, if you look to 2013, it shoots back up. how can the president hold a press conference when he talks about cuts using the word smaller. >> there's so much shrinkage. the problem is the middle class is the working poor. that's what's the norm. people are so used to it now they don't realize it should be fixed. we could focus on cutting back on spending, thinking about how to stimulate jobs and the economy. we're so used to the stagnation, it's become acceptable and people aren't critical enough to say there's a better way to do this and a smarter financial way to make sense. >> is this the new normal? before we get to that, the white house scrambled after the cbo announcement to cobble the press conference together. what did you think? >> one of the things, if ear going to call press conferences, he has to take questions. i
of the president's proposals will be paid for and will not add to the deficit, and of course, it is how he pays for it that is going to be the debate point. after his tuesday night speech, president obama hits the road for a three-day tour, and stops in asheville, north carolina, wednesday and atlanta on thursday and chicago on friday. and here's what we will make the state of the union different than other presidential addresses to congress. it won't just frame the coming year, but the budget battles to take place in the next three to six weeks. it starts with the $85 billion in budget cuts coming march 1st if nothing is done to alter the so-called sequester. according to the white house, the president will continue to press congress on the fiscal issues with tax reform and tax hikes and entitlements and he previewed that message in his weekend. >> there is no reason that middle-class families and small businesses should suffer because washington could not come together and eliminate a few special interest tax loopholes or government programs that just don't work. >> the sequester has turned i
to say we have a spending problem. we have a budget deficit problem we have to address. >> now pelosi went on to claim that nothing brings more money in the u.s. treasury than investing in education. investing another word for spending. bret? >> bret: so, ed, what are we hearing if the president will tack the deficit in the speech? >> interesting, because today jay carney said he does believe there is a spending problem in washington. he seems to disagree with nancy pelosi a little bit. carney went on to say he believes the problem is with spending on healthcare. so something the president tried to tack with the affordable care act and carney went on to say the president doesn't believe the government is too big now. when you compare it to historic levels, sign he is not going all in on the deficit tomorrow night. he is going all in on new investments. >> bret: okay. ed henry live on the north lawn. thank you. you can see the president's speech along with the republican response on fox news channel tuesday starting at 8:55:00 p.m. eastern. and to share your thoughts and opinions on tu
, under the terms of some of those previous budget deals, congress must now find $58 billion in deficit reduction either by raising revenue or closing tax loopholes by march 1st. medicare would take a 2% reduction. the president prefers an option that raises more money by closing tax loop hoalsz. republicans want to stick with spending cuts saying they've already done the revenue part. a study estimated 448,000 jobs in d.c., maryland and virginia could be affected by automatic budget cuts. the sequestration cuts are unpopular with both parties and there are concerns about the economic impact. >> our economy right now is headed in the right direction and it will stay that way as long as there aren't any more self-inflicted wounds coming out of washington. >> the sooner we solve our spending problem, the sooner our jobs problem will go away as well. >> reporter: you may remember these cuts were originally scheduled to kick in on january 1st because congress could not agree on a broader package for deficit reduction back in 2011 and 2012 in exchange for republicans agreeing to raise the d
of where we stand and where we're going. the 2013 deficit standing at $845 billion. last year it was $1.1 trillion. so obviously we're going in the right direction. but they do give a grim fast if there is a type of austerity measure that is in place while the economy remains very fragile. >> well, that's right. there are two things we have to work on at the same time. the most important thing is to make sure that we continue to see an economic recovery, that we do what we can to accelerate that recovery, put more people back to work. and the sequester would undercut that effort, because if you take that much money out of the economy very rapidly in this across-the-board way, it will result in lost jobs, which is why we proposed this alternative. now over the longer term, there's no doubt we have to reduce our deficit, but we have to do it in a smart and balanced way as the president has said, and that's why we have proposed a combination of cuts and we've already done $1.5 trillion in cuts as part of the budget control act and other action. we did some revenue as part of the most recen
adding 10 to 15 billion dollars onto debt to keep running up these deficits year after year. something has to change. what's the answer? do we raise -- hold on. do we raise the price of stamps or renegotiate your contracts? >> first off, you talk about the billion that -- the money you just talked about, how much of that is the prepayment which he we are funding prepaid military benefits for all other agencies. we're the only government agency required to do that since 2006. >> all right. >> as mandated by. paea. so without that, how much of that loss would have been actual loss? >> well, i don't know, but i know for the last three or four years there have been multiple billion dollar losses that the postal service has thrown over to the treasury which myself and most of our viewers out here, we're funding the treasury but the postal service is throwing losses onto us. >> the postal service has not taken any taxpayer money. >> absolutely incorrect, ma'am. where is the money coming from? tell me where the money came from. >> the postal service has no record of taking taxpayers' money. w
rainfall deficit for the year. we're down nearly half a foot of rain in san francisco, almost three inches in san jose and livermore. we do have this low pressure area. it's working its way down the california coastline right now. snow in the mountains, scattered showers for us. slight chance of a thunderstorm right at the coastline. but once this guy is gone, the rain chance is gone until likely after valentine's day. it will be with us till about lunchtime tomorrow. heading off to work, might want to leave five or ten minutes early, because the rain will likely slow things down. high pressure stays off to our west, giving us a northerly flow, a cold flow but a dry flow. after tomorrow, we will be mainly dry for a while. how much rain tonight? some of you may get half an inch of rain, maybe a little less than that for san francisco. but it's certainly not a deficit buster when it comes to rain. slight chance of a thunderstorm tonight, especially at the coast. the weekend will be sunny and cold. lows near freezing in our inland communit
're brewed by starbucks. coming up next, how can washington solve the deficit and spur growth? "new york times" washington bureau chief david leonhard may have the answers, and he joins us live next. this happy couple used capital one venture miles for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ if you don't have something important to say? [ female announcer ] some people like to pretend a flood could
up next -- >> our deficit is a big problem. think about it. and our national debt, $16.5 trillion. you think that's not a lot of money? >> sean: with the president steps away, my next guest had the courage to speak truth to power. world-renowned surgeon dr. benjamin carson joins me after the break. and we're tracking the super storm blizzard now battering the northeast. a live report on that storm is coming up next. we continue to monitor the situation and manhunt in california right here on "hannity." >> sean: this is a fox news alert. a historic blizzard is now pounding the northeast, bringing massive amounts of snow, very high winds. some parts of new england should see more than 2 feet of snow. experts say this could be the biggest storm on record. here with more on the blizzard being called nemo, rick reichmuth. what's the latest, silk. >> the two storms have completed the process of merging. now we'll continue to see the storm strength, which means heavier snowfall rates and stronger winds coming in. take a look at the radar picture. where you see this blue here, that's very
in education, boosting clean energy production, and reducing the deficit. does that sound like a jobs plan to you? >> well, it certainly -- i certainly think the american jobs act that i keep saying, it sounds like a talk point, but in that we should pass. and that is up to the house republicans to get that through. but i think that part of the problem for the president is that he has been beating the same drum repeatedly over and over and over again and he keeps coming up against republican opposition in the house. brad said that we have a spending problem. i agree that there are things that we need to look at to make sure that our deficit is under control. that's more of a long-term problem. in the short-term, we need to spend more to get the economy back on track. >> no, quite the contrary. rick, we spend too much money. our economy is not growing because people are fearful. one of your great here rose, bill clinton, said there is about $2 trillion that people are sitting on. why? because they have no confidence in sure ty in the marketplace. we have a democrat senate that hasn't produc
, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working on michellely over the next few weeks is going to be on how do we deal with the sequester issue, and i just want to make this quick point. i had a press conference this week in which i reiterated i am prepared, eager, and anxious to do a big deal, a big package that ends this governance by crisis for every two weeks or every two months or every six months. we are threatening this hard won recovery where finally housing is starting to pick up and commercial real estate is starting to do better and the unemployment numbers are still too high, but we're seeing some job growth and businesses are investing and manufacturing is doing we
forest, 23 a piece, thomas and hawkens. a 2 point hook up. wake clawed back from a 20 point deficit to climb within 3 in the closing minutes maryland prevails, 73-63. that is a quick hit of sports hope everybody has a good nigh this is so sick! i can't believe your mom let you take her car out. this is awesome! whoooo! you're crazy. go faster! go faster! go faster! go faster! no! stop...stop... (mom) i raised my son to be careful... hi, sweetie. hi, mom. (mom) but just to be safe... i got a subaru. (announcer) love. it's what makes a subaru a subaru. hey! hey honey! hey alan. uh, hey.... i'm bob, we talked at the tax store. i did your taxes. i thought you were a tax expert? today, i'm a master plumber. major tax stores advertise for preparers with "no tax experience necessary." at turbotax, you only get answers from cpas, eas or tax attorneys - all real tax experts. ...than h&r block stores and all other major tax stores combined. >>> it wasn't a pretty sight at this annual parade in switzerland. people wore all these ugly masks the reason for the masks dates back to the
the automatics cuts take effect. if there's no long-term agreement to reduce the deficit. those cuts would take a big bite out of military spending and domestic programs. including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> it was supposed to be just a vacant apartment building, but today an incredible fast moving fire killed two people who were living inside it. firefighters were hurt today while battling the blaze on r street and southeast. bruce johnson reports, squatters, not uncommon in our nation's capital. >> a motorist passing by was the first to see planes planes -- flames pouring out of the building. >> i don't know what happened. >> it took firefighters an hour to knock down the two- alarm blaze, but not before two of them had injured shoulders and a third firefighter injured an ankle. the news will get worse. two bodies were discovered in the fire. >> there's a possibility that they may have gone in there to get away from the environment. >> city officials say the unit was listed as vacant. that meant the two people found inside would have been sq
a more sweeping plan of long-term deficit reduction when they couldn't do that, this automatic cut put in to place, in to law. now republicans saying that they expect it will happen and in part are okay with that. because it would automatically begin achieving some spending cuts that the two sides have not been able to come to terms with in another way. you heard the president saying there needs to be more time and the real wrinkle now is that republicans thought the tax issue of increasing rates and more revenue just resolved and from their point of view, they thought no more taxes. that issue's off the table but democrats and the president are talking about things like the famous corporate jet loophole and other things to bring in more money. republicans are saying, no. this is going to be one of those standoff moments. will there be a lot of tension between both sides to try to figure this out? >> absolutely. 2:30 eastern time, the professionive caucus to introduce legislation to eliminate the sequester and seeing a lot of move chess peets pieces on the board. >> reporter: absolutel
in washington will be over. >> today i'm pledging to cut the deficit we inherited by half by the end of my first term in office. >> will be closed no later than one year from now, guantanamo. >> transparencieiey and the rul of law. >> sean: the set of lies, a brand new set of you be kept promises and they're starting to buildup. remember when our fearless leader said this. >> no family making less than $250,000 a year will see any form of tax increase. >> nothing in this plan will require you or your employer to change the coverage or the doctor you have. >> we've been extraordinarily careful not to in any way undermine the employer-based system. >> that's why my proposal builds on the current system where most americans get their insurance from their employer. if you like your plan, you can keep your plan. >> sean: guess what, while he couldn't keep those promises either. middle class taxes have gone up and will continue to do so thanks to the administration. when it comes to obamacare, the cbo projects by 2022, 7 million americans will not be able to keep their employer insurance program thank
understand -- i believe the american people understand that yes, we need to reduce the deficit, but it shouldn't just be on the backs of seniors. it shouldn't just be on the backs of young people trying to get a college education. >> the president won the fairness debate in the fall. that's what the election was all about. today, the president said that argument will define the fight ahead on guns, immigration, women's rights, gay rights. the whole agenda. >> the question i will ask myself on every item, every issue, is is this helping to make sure that everybody has got a fair shot and everybody is doing their fair share and everybody is playing by the same rules. >> this president is gearing up to push for real change. and he's compared to confront the gop if they don't want to compromise. joining me now is congresswoman james shakowski who was at the democratic retreat with the president. she's part of the progressive caucus which produced his own plan this week to trim the deficit without cuts to our safety net. congresswoman, let me go to you first. the president made it c
an economic value of negative $16.3 billion. that is basically a deficit in its capital reserve because of mortgages continuing to go bad. but one fha critic, ed pinto, of the american enterprise institute testified today by his analysis the fha is actually short by more than $50 billion. so critics say that this means the fha is headed for a bailout but, fha supporters say that the critics are hyperventilating. >> if the fha were a private financialness stigs likely somebody would be fired, somebody would be fined or the institution would find itself in receivership. instead it is merely merrily on its way to becoming the recipient of the next great taxpayer bailout. >> i don't think there are many independent people think we're looking at the next great bailout. yes, the fha is little bit of an issue at the moment because of its countercyclical mission, by the way it was part of a their original mission to come in during the difficult times. they did that and they are in trouble because of it. >> reporter: house republicans got legislation through congress last year to try to reform t
to create jobs, which is deficit spending and increased taxes to finance more domestic spending on his priorities. this is what he's been talking about, really, since he started running for reelection, which is to say the day off he got elected the first time. this is his chance, this is his thing, this is what he likes to talk about. i'm not surprised to hear him make this the focus of the state of the union, but i will say this, the consequence of him going on such an ideological, liberal sort of power point throughout his inaugural address, the position of having to go back and remind people this really is about jobs, if we don't like having 7.9% unemployment and don't like these things and the reports that we talk about global warming and marriage, et cetera, et cetera, et cetera. >> what does it actually do for him or his party. the thing is as a second term president not much he can do, pick a couple of top priorities and seems he's doing that with immigration reform and gun control and some climate change issues. so is this push for jobs because he made a push before the electio
Search Results 0 to 49 of about 129 (some duplicates have been removed)